Cabinet nod for issuance of long term residence visa for foreign investors

Tuesday, 26 April 2022 10:50 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday has approved the introduction of a new methodology for long – term residence visa issuance. The Cabinet of Ministers granted approval for the proposals furnished by President Gotabaya Rajapaksa as the Minister of Defense in relation to the issuance of long – term visa subject to that methodology mentioned as follows.

• Depending on the amount of investment of United States Dollars, issuance of long – term residence Visa from 5 to 10 years for foreigners and directors, their spouses and their dependents of foreign companies who invest at least United States Dollars 75,000 or more than that in condominium properties.

• Implementation of a programme named “Golden Paradise Visa Programme” that enable issuance of residence Visa for 10 years for the foreigners who deposit at lease United States Dollars 100,000 in a commercial bank recognised by the Central Bank of Sri Lanka.